CareAcademy Receives $20M Investment From Goldman Sachs Asset Management

BOSTON (June 9, 2022)—CareAcademy, a care enablement platform for homecare and home health organizations, announced a $20 million strategic investment round. The round was led by Goldman Sachs Asset Management, with participation from MassMutual through the MM Catalyst Fund, Impact America Fund, Rethink Education, Unseen Capital, First Trust Capital Partners, LLC and prior investors. The investment is part of Goldman Sachs’ One Million Black Women initiative, a $10 billion commitment to narrow opportunity gaps and impact the lives of Black women over the next decade. The new funding will be used to accelerate product development and data measurement capabilities while furthering the company’s mission to unlock the unmet potential of caregiving in home and community-based services.

CareAcademy was founded to empower and upskill caregivers across the long-term care continuum to deliver advanced, high-quality care that measurably improves patient outcomes. With over 1.5 million hours of training delivered to nearly 300,000 learners, CareAcademy is leading the industry by empowering caregivers with access to high-quality education, the necessary training supports to address chronic disease, and upskilling pathways to enable millions of caregivers to achieve their education goals. 

“This is a momentous time for CareAcademy. This strategic investment positions CareAcademy to meet its ambitious goal of empowering 1 million caregivers by 2023. Caregivers across the entire long-term care continuum will access CareAcademy to meet not only their state and federal required training but also the needs of the patients and loved ones they support,” said Helen Adeosun, founder and CEO, CareAcademy. 

“Having the support of Goldman Sachs enables us to further accelerate our growth, expanding our reach into enterprise and home health opportunities, and increasing our product and data measurement capabilities to equip caregivers of all types to reach their full potential,” Adeosun continued. “The next stage of our growth is furthering the win-win-win: providing caregivers in all settings the supports they need, enabling employers to recruit and retain a quality workforce, and enabling communities to access quality care.” 

Antoine Munfa, managing director within Goldman Sachs Asset Management, said, “CareAcademy is uniquely positioned to address the unprecedented need for home health care services, in addition to the ongoing staffing crisis that is hindering the delivery of high-quality care in local communities. We believe CareAcademy has the breadth of industry experience to empower, retain and address the challenges faced by caregivers at scale and look forward to partnering with the team as it accelerates its next phase of growth.” 

To learn more, visit careacademy.com.